US firm picks up 55% in Kochi-based CS3

Digital Liberty Group (DLG), a California-based information technology player, has acquired a 55 per cent stake in Kochi-based IT company Comprehensive Software Solutions and Services (CS3).

Following the deal, DLG has lined up plans to enhance CS3's presence in the Indian IT space by extending solutions and services across the country.

The financial details of the deal have not been disclosed. The new entity will work towards achieving CMM (Capability Maturity Model) certification at the earliest.

According to DLG Chairman O K Sanjit, the US-based company has been pursuing global investment opportunities, especially in the emerging markets and is committed to maintaining its active presence in the most happening markets in India, China, Japan and GCC (Gulf Cooperation Council) apart from the US. "We are strengthening our presence in the Indian IT space with the takeover of CS3. More takeovers are in the pipeline in the coming months," he added.

For CS3, the deal opens up an opportunity for the entity and its customers to gain access to global quality software solutions and services.